(Bloomberg) -- Bond billionaire Jeffrey Gundlach says Japanese stocks are cheap. A lot of investors are starting to agree.

The head of DoubleLine Capital says Tokyo equities may be a way to play the reflation trade, reiterating the bullish stance he took in 2013. With a Federal Reserve interest-rate increase next week seen as a certainty and traders turning their focus to how many more hikes will follow, Japan's stock market is primed to benefit from a weaker yen and money managers shifting into shares from bonds.

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